Issue - meetings

Report of the Executive Director – Corporate Services and Commercial

Further to Minute No. 107 of the meeting of the Cabinet held on 13 February 2025, the Council considered the report of the Executive Director – Corporate Services and Commercial that set out proposed policy and strategy documents for the Treasury Management Policy; the Treasury Management Strategy; and the Minimum Revenue Provision Policy Statement.

The following appendices were attached to the report:

·       Appendix A – Treasury Management Policy 2025/26

·       Appendix B – Treasury Management Strategy 2025/26

·       Appendix C – Minimum Revenue Provision Policy Statement 2025/26

It was moved by Councillor Howard, seconded by Councillor Atkinson and

RESOLVED:

That approval be given to:

(1)      the Treasury Management Policy Document for 2025/26;

(2)      the Treasury Management Strategy Document for 2025/26; and

(3)      the Minimum Revenue Provision Policy Statement 2025/26.

Report of the Executive Director – Corporate Services and Commercial

Further to Minute No. 41 of the meeting of the Overview and Scrutiny Committee (Regulatory, Compliance and Corporate Services) held on 11 February 2025, the Cabinet considered the report of the Executive Director – Corporate Services and Commercial that set out proposed policy and strategy documents for the Treasury Management Policy; the Treasury Management Strategy; and the Minimum Revenue Provision Policy Statement.

The following appendices were attached to the report:

·       Appendix A – Treasury Management Policy 2025/26

·       Appendix B – Treasury Management Strategy 2025/26

·       Appendix C – Minimum Revenue Provision Policy Statement 2025/26

Decisions Made:

That the Council be recommended to approve:

(1)      the Treasury Management Policy Document for 2025/26;

(2)      the Treasury Management Strategy Document for 2025/26; and

(3)      the Minimum Revenue Provision Policy Statement 2025/26.

Reasons for the Decisions:

The Council had adopted CIPFA’s Code of Practice on Treasury Management in the Public Services. The Code required that the Council set a policy and strategy for the effective operation of the Council’s Treasury Management function during the financial year. This would ensure that cash flow was adequately planned, surplus monies were invested commensurate with the Council’s risk appetite whilst providing adequate portfolio liquidity, and that the borrowing needs of the Council were properly managed to ensure that the Council could meet its capital spending obligations.

Alternative Options Considered and Rejected:

None.

Report of the Executive Director – Corporate Services and Commercial

The Committee considered the report of the Executive Director of Corporate Services and Commercial on the Treasury Management Policy and Strategy 2025/26.

The report indicated that the Council had adopted CIPFA’s 2021 Code of Practice on Treasury Management in the Public Services which recommended the production of annual Treasury Management Policy and Strategy documents; that the Code required that the Council set a policy and strategy for the effective operation of the Council’s Treasury Management function during the financial year; and that this would ensure that cash flow was adequately planned, surplus monies were invested commensurate with the Council’s risk appetite whilst providing adequate portfolio liquidity, and that the borrowing needs of the Council were properly managed to ensure that the Council could meet its capital spending obligations.

The report concluded by providing the Committee with the opportunity to submit comments to Council that would be considered as part of its formal approval of the Treasury Management Policy, Treasury Management Strategy and Minimum Revenue Provisions Policy Statement.

The Treasury Management Policy, Treasury Management Strategy and Minimum Revenue Provision Policy Statement were attached as appendices to the report.

This report would also be considered by Cabinet and Council at their meetings to be held on 13 and 27 February 2025 respectively.

RESOLVED:

That the proposed Treasury Management Policy, Treasury Management Strategy and Minimum Revenue Provision Policy Statement documents, which include the objectives and operation of the Council’s Treasury Management functions, the manner in which the Council will manage its investments, and the methodology used to set aside revenue provision for the repayment of debt, be noted.